Ero Copper Corp. (NYSE:ERO) Receives Consensus Recommendation of “Buy” from Brokerages

Ero Copper Corp. (NYSE:ERO) has been given an average recommendation of “Buy” by the seven ratings firms that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $30.00.

A number of analysts recently commented on ERO shares. StockNews.com upgraded shares of Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Raymond James upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group raised Ero Copper from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Ventum Cap Mkts upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Bank of America assumed coverage on Ero Copper in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price objective for the company.

Ero Copper Trading Down 1.0 %

Ero Copper stock opened at $15.28 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82. The stock has a market cap of $1.58 billion, a PE ratio of 89.88 and a beta of 1.23. The stock has a 50-day moving average of $19.75 and a two-hundred day moving average of $20.40. Ero Copper has a one year low of $11.44 and a one year high of $24.34.

Institutional Trading of Ero Copper

A number of hedge funds have recently modified their holdings of ERO. Geode Capital Management LLC lifted its holdings in Ero Copper by 16.1% in the third quarter. Geode Capital Management LLC now owns 46,940 shares of the company’s stock valued at $1,050,000 after acquiring an additional 6,521 shares during the period. Impala Asset Management LLC lifted its stake in shares of Ero Copper by 12.7% in the 3rd quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock valued at $49,208,000 after purchasing an additional 248,390 shares during the period. Barclays PLC boosted its holdings in Ero Copper by 64.4% during the third quarter. Barclays PLC now owns 33,987 shares of the company’s stock worth $757,000 after buying an additional 13,309 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Ero Copper during the third quarter worth $654,000. Finally, National Bank of Canada FI grew its position in Ero Copper by 13.6% during the third quarter. National Bank of Canada FI now owns 66,183 shares of the company’s stock valued at $1,474,000 after buying an additional 7,912 shares during the period. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Company Profile

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.